New York, NY, Jan. 07, 2022 (GLOBE NEWSWIRE) — Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, is pleased to announce a recitation, for its shareholders, of the Company’s key activities over the last year, as follows:
On January 7, 2022, the Company filed a Form 8-K, with audited financials, upon the closing of the transactions governed by the stock purchase agreement with Bronx Family Eye Care, Inc., Bronx Family Eye Care, Inc. operates four brick-and-mortar locations, three of which are in the Bronx, and one of which is in Manhattan, New York. Bronx Family Eye Care, Inc.’s certified optometrists use cutting-edge equipment to provide diagnosis and treatment for diseases of the eye, as well as corrective eyewear, to residents of the Bronx and Upper Manhattan.
On December 18, 2021, the Company executed a Member Unit Purchase Agreement to acquire 100% of Classroom Salon Holdings, LLC, from Classroom Salon, LLC, which closed on December 30, 2021. Classroom Salon, LLC is a software platform, developed in partnership with Carnegie Mellon University, that utilizes interfaces, workflows and algorithms to observe and understand students’ reactions as they study materials. The analyzed results provide educators a useful tool in understanding students’ areas of interests and needs.
On December 9, 2021, the Company filed an S-1 Registration Statement seeking to register cryptocurrency tokens, which are pegged to the value of GTII’s fine art collection, to be distributed as a dividend to its shareholders at a rate of one (1) token for every ten (10) shares of GTII common stock owned as of a yet-to-be-determined record date. The S-1 is currently being reviewed by the SEC. The date of the proposed distribution will determined as soon as practicable when and if the Registration Statement is declared effective.
On November 9, 2021, the Company executed a definitive stock purchase agreement with Trento Resources and Energy Corp., to engage in a business combination. Trento Resources and Energy Corp. owns 40% of the mining interests of a Copiapo, Chile mine with estimated reserves of over 1,000,000 tons of rare earth minerals and iron. On December 9, 2021, GTII engaged the Chilean law firm of Bertrand-Galindo Barrueto Barroilhet & Cia to complete a due diligence review of the mining concessions, operations, land easements, permits, and assets, as well as advise GTII on applicable local laws and regulatory structures.
On June 17, 2021, the Company announced the successful launch of its cryptocurrency trading platform, beyondblockchain.us. The related mobile application launched on August 18, 2021 on the Apple App Store. Work continues on an ongoing basis to further refine and update the features of the site.
On April 23, 2021, the Company announced that, with the assistance and under the direction of Ronald Cavalier, the Company’s consultant of its planned digital fine art portfolio, GTII purchased an original Picasso etching, ‘Quatre femmes nues et tete sculptee’, which was executed in 1934 on Montval laid paper and published by A. Vollard, Paris in 1939. Subsequently, on June 4, 2021, the Company announced it had acquired an Andy Warhol gelatin silver print of Bianca Jagger on a white horse, taken by Warhol at the famed Studio 54.
On April 8, 2021, the company distributed a dividend in the form of a warrant to its shareholders. The common stock underlying the warrants was subsequently successfully registered with the SEC. The warrants are exercisable until April, 2023, and were issued at a rate of one (1) warrant for each ten (10) shares beneficially owned as of April 1, 2021.
David Reichman, Chairman of GTII stated “2021 represents the most significant period of sustained growth the Company has ever experienced. I can’t say enough about the team that management put together this year to grow the Company in so many diverse industries. Most of these ventures required a unique level of competence and expertise to understand and represent the Company to its advantage. We picked the right people for the jobs, and the Company and its shareholders saw much improvement in 2021. Now, it’s on to 2022, which is already shaping up to potentially be our most productive and exciting year yet, especially in the crypto currency and digital fine arts businesses.”
About Global Tech Industries Group, Inc.: GTII, a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies.
Please follow our Company at: www.otcmarkets.com/stock/GTII
Safe Harbor Forward-Looking Statements:
This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and acquire businesses and assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.
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Global Tech Industries Group, INC.
511 Sixth Avenue, Suite 800
New York, NY 10011